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HomeMy WebLinkAbout3.a. 20151020 PAM RMROSEMOUNT PORT AUTHORITY REGULAR MEETING PROCEEDINGS OCTOBER 20, 2015 CALL TO ORDER Pursuant to due call and notice thereof a Regular Meeting of the Rosemount Port Authority was thth held on Tuesday, October 20, 2015 at 6:00 p.m. in the Council Chambers at City Hall, 2875 145 Street West, Rosemount. Chair Weisensel called the meeting to order with Commissioners Droste, Wolf, Luing, Smith, Abdulahi and DeBettignies attending. Staff present included City Administrator Johnson, Community Development Director Lindquist, Finance Director May and City Clerk Hadler. The Pledge of Allegiance was said. ADDITIONS OR CORRECTIONS TO AGENDA City Administrator Johnson stated there were no proposed changes. Motion by Abdulahi. Second by Luing. Motion to Adopt the Agenda. Ayes: 7 Nays: 0. Motion carried. CONSENT AGENDA Motion by DeBettignies. Second by Smith. Motion to approve the Consent Agenda. a.Approval of September 15, 2015 Meeting Minutes b.Approval of Bills and Invoices c.Updates on Web & Open to Business Use Ayes: 7 Nays: 0. Motion carried. NEW BUSINESS . 4.a2015A G.O. TIF Refunding Bonds Accept Bids and Award Sale Finance Director May gave an overview of the bond sale. There were five bids received. The lowest bid was from Piper Jaffrey and Company. The bid is lower than what was projected earlier, with a True Interest Rate of 2.5095%. Mr. May explained that the reasons for this are that the inventory this week is low and the demand is high, as well as the fact the bond rating is very good. Ms. Heaton, of Springste team for the positive bond rating. Commissioner Smith inquired when the bond closing will be. Ms. Heaton responded it will be in November. ROSEMOUNT PORT AUTHORITY REGULAR MEETING PROCEEDINGS OCTOBER 20, 2015 Mayor Droste stated that total property values are still lower than 2009. Also that the report states that we need to see substantial growth and diversification to see the bond rating improve. Ms. Heaton added that this is common in other cities in the Metropolitan Area also. Commissioner Abdulahi inquired about the difference in interest rates in different years. Ms. Heaton explained how the bonds will be sold at these different rates in different years. Motion by DeBettignies. Second by Smith. Motion to adopt a Resolution Awarding the Sale of $3,335,000 General Obligation Tax Increment Refunding Bonds, Series 2015A; and Providing for their Issuance. Ayes: Droste, Wolf, Luing, Weisensel, Smith, Abdulahi and DeBettignies Nays: None. Motion carried. 4.b. Community Development Director Lindquist - Ryan site and being sold by the City. Ms. Lindquist discussed drive-through layout, landscaping, entrances and parking. Staff is still working through the purchase agreement items. Commissioner Smith asked about entrances into the parking lot and drive-through pass-through. Ms. Lindquist explained the 2 entrances from Robert Street and the multi-directional parking lot. Commissioner DeBettignies stated they seem to have more parking than what they are required. Ms. Lindquist stated they did. Commissioner Wolf asked about the construction plan. Ms. Lindquist stated she does not expect them to be building this fall. had not discussed this with them. 4.c.Landscape Plan for Business Park Sign Community Development Director Lindquist discussed a proposed landscape plan for the existing Business Park sign. Commissioner Abdulahi inquired if it was possible to replace the sign itself. Ms. rown. Commissioner Smith concurred he did not like the arborvitae. Commissioner Droste stated that Sweet Harvest has a very nice modern sign. Commissioner DeBettignies asked about the cost of the landscaping. Ms. Lindquist stated it was approximately $1000 and the labor would be supplied by Public Works staff. ROSEMOUNT PORT AUTHORITY REGULAR MEETING PROCEEDINGS OCTOBER 20, 2015 OLD BUSINESS Community Development Director Lindquist stated she is expected the hotel study at the end of this week or beginning of next week. REPORTS FROM PORT AUTHORITY COMMISSIONERS Commissioner Droste stated he attended a ribbon-cutting at Snap Fitness last week. Also, the daycare in that mall is up to 67 kids. ADJOURNMENT There being no further business to come before the Port Authority and upon a motion by Weisensel, second by DeBettignies, the meeting was unanimously adjourned at 6:40 p.m. Respectfully Submitted, Clarissa Hadler, City Clerk